The performance of the Miami real estate market remained strong in February, as prices continue to rise while properties sell rapidly and near asking price, according to the 31,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system.
The performance of the Miami real estate market remained strong in February, as prices continue to rise while properties sell rapidly and near asking price, according to the 31,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system.
Median Sale Prices Continue to Increase
Median sale prices again increased significantly for both single-family homes and condominiums in February. The median sales price for single-family homes jumped 17 percent, up to $227,000 from $194,000 in February 2013, marking 27 straight months of growth. The average sale price for single-family homes increased 6.7 percent from $389,368 in February 2013 to $415,312 last month.
Median sale prices again increased significantly for both single-family homes and condominiums in February. The median sales price for single-family homes jumped 17 percent, up to $227,000 from $194,000 in February 2013, marking 27 straight months of growth. The average sale price for single-family homes increased 6.7 percent from $389,368 in February 2013 to $415,312 last month.
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